Question

Explain the Concept of the ‘Warsaw Convention’ and its role in Financial Management

Explain the Concept of the ‘Warsaw Convention’ and its role in Financial Management

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Answer #1

The convention for the unification of certain rules relating to international carriage by air is commonly known as the Warsaw convention, is an international convention which regulates liability for international carriage of persons, luggage, or goods performed by aircraft for reward. The Warsaw conventioin denotes liabilty limits in french francs (which are obsolete) and Special Drawing Rights (which are not). It set atwo year limit for a passenger to make a claime against an airline and requires airlines to issue tickets for passengers and checked lugguge. The convention was signed in 1929 and has been amended a few times since.

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